Page 2 - Mutual Funds Industry

CAMS profit after tax rises 37% to Rs 77.31 cr in December quarter

It had posted a profit after tax (PAT) of Rs 56.42 crore in the same quarter preceding fiscal, according to a statement

Sebi advises mutual funds to stop subscriptions into overseas funds

The move comes as the industry is likely to breach the $7 billion-mark

Yes Mutual Fund rechristened as White Oak Capital Mutual Fund

Yes Asset Management's name has been changed to White Oak Capital Asset Management with effect from January 12. Further, Yes Mutual Fund will now be called White Oak Capital Mutual Fund, Aashish P Sommaiyaa, Chief Executive Officer of White Oak Capital, announced in a tweet on Thursday. He, further, said: "WhiteOakCap has filed equity MF offer documents for regulatory approval". Founded by Prashant Khemka, formerly CIO of Goldman Sachs Asset Management's India Equity and Global Emerging Markets Equity businesses, White Oak Capital group provides investment management and advisory services for equity assets of over Rs 42,000 crore. In November, White Oak Capital group announced the completion of the transaction to acquire the mutual fund business of Yes Bank. GPL Finance and Investments, a subsidiary of White Oak Capital group, had received capital markets regulator Sebi's approval to acquire Yes Asset Management from Yes Bank in September. In August 2020, the private lender had .

'For' votes by mutual funds rise as abstentions decline, shows data

Share of 'against' votes on company resolutions has moved up slightly in FY22

Axis MF eyes Rs 100 crore from new SDL-based fund of funds

Axis Mutual Fund, one of the fastest-growing fund houses, on Thursday launched a new fund offer targeted at state development loans (SDL)-based ETF and hopes to mop up at least Rs 100 crore from issue

New entrants leveraging technology to attract customers in MF industry

Recent entrants are leveraging technology and low-cost 'passive investing' to attract customers in an industry where market penetration is low

Brokerages, securities analysis industry good vehicles to ride bull-run

Larger firms garnering market share amidst good growth in industry

MFs to focus on stronger inclusion of investors from deeper geographies

India has witnessed tremendous growth in its mutual funds industry that has grown from Rs 1.13 lakh crores to Rs 31.7 lakh crores in AUM from March 2000 to February 2021.

Sebi slaps over Rs 32 crore penalties on IISL, AFSL, 3 individuals

Sebi has imposed penalties totalling more than Rs 32 crore on IL&FS Securities Services Ltd (ISSL), Allied Financial Services Pvt Ltd (AFSPL) and three individuals for lapses in connection with alleged fraudulent transfer of mutual fund units of three companies. Besides, the watchdog has passed various directions against them. The regulator has passed two separate orders, dated July 2, against ISSL, and AFSPL and its three directors after it carried out a detailed investigation into the matter for the period from February 20, 2017 till February 8, 2019. ISSL is a clearing member while AFSPL is a depository participant. While imposing a fine of Rs 26 crore on ISSL, a clearing member, and also passing certain directions, Sebi noted that its order would be subject to any order passed by the Supreme Court. Also, enforcement of the liability and the order would be subject to the orders of the National Company Law Tribunal and the National Company Law Appellate Tribunal (NCLAT). These

Invesco Mutual Fund unveils Invesco India Medium Duration Fund

The fund is an open-ended medium-term debt scheme

Returned Rs 17,777 cr to investors of shuttered schemes: Franklin Templeton

This amounts to 71 per cent of assets under management (AUM) as on April 23, 2020

Mutual Fund SIP asset base touches all-time high at Rs 4.67 trillion in May

SIP AUMs have seen a close to four-fold jump to Rs 4,67,366 crore as of May this year from Rs 1,25,394 crore as of August 2016.

Sebi's Franklin Templeton order sends ripples across MF industry

Fund houses to review investment processes; opt for safety over returns

Sebi gives more time to mutual funds to implement new disclosure rules

The new norms were to come into effect from June 1.

Aditya Birla Sun Life AMC multi-cap fund garners over Rs 1,900-cr

Aditya Birla Sun Life AMC on Monday said it has received more than 88,000 applications garnering over Rs 1,900 crore for its new multi-cap scheme during the New Fund Offer (NFO) period. The new fund -- Aditya Birla Sun Life Multi-Cap Fund-- is an open-ended equity scheme investing across large cap, mid cap & small cap stocks, the asset management company said in a statement. The NFO was open between April 19 and May 3. The fund has reopened for subscription from May 10. "Despite the logistical challenges posed by the pandemic, we have attracted over 88,000 applications covering more than 9,600 pin codes across T30 and B30 markets. What is also noteworthy is the contribution coming from diversified channels across the board exhibiting our distribution strength as a fund house," A Balasubramanian, MD and CEO, Aditya Birla Sun Life AMC, said. According to him, the interest received in this new fund is also a reflection of the growing appetite of equity investments in the ...

ICICI Prudential AMC proposes to rollover three FMPs to negate M2M impact

Move will also give investors indexation benefit on long-term capital gains

Amfi asks MFs to include cash component in overall yield of debt schemes

Sebi had earlier expressed displeasure at fund houses depicting portfolio yield of debt schemes by leaving out yields on cash and cash equivalents

MFs step up launches of schemes seeking to invest in foreign markets

Most funds in FoF space chasing unique themes

Sebi's new compensation rule to create arbitrage in favour of index funds

Index funds, ETFs, overnight funds and close-ended funds have been exempted from the new rule.

MFs add 8.1 mn investors account in FY21, experts hopeful of growth

Experts hope that the healthy growth in folios would continue in the ongoing fiscal also